The Asian Development Bank (ADB) has approved $540 million for Pakistan, aimed at reforming state institutions and protecting Sindh’s coastal areas from climate hazards.
$400 million of the fund will be spent on improving governance in state-owned enterprises (SOEs), increasing digitalisation and restructuring the National Highway Authority (NHA).
While $140 million has been allocated for the Sindh Coastal Resilience Project, which will benefit more than half a million people.
The ADB announced that the project will protect 1.5 million hectares of agricultural land, help restore 22,000 hectares of forests, and improve environmental and food security.
In addition, an additional $40 million is included from the Green Climate Fund, while 25 percent of the funds in the project will be spent on women-led activities.
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